Cash App customers that were impacted by data breaches and misappropriation of account information have a chance to recover some expenses, up to $2,500, as part of a $15 million settlement. The first data breach occurred in April 2022, and the second took place in October 2023. Cash App Investing denies any liability or wrongdoing of any kind associated with the claims in the lawsuit
The plaintiffs to the class action suit allege that Cash App Investing was negligent and breached other obligations to users when a former Cash App employee accessed account data without permission in 2022. In 2023, an unauthorized user accessed certain Cash App accounts using recycled phone numbers that were linked to the accounts.
According to the class action lawsuit, the former employee's actions and access to customer information resulted in 8.2 million Cash App customers' sensitive personal information being published online.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
You can only submit one claim per person, even if you have multiple Cash App Accounts. If you do have multiple Cash App Accounts, be prepared to list all of your $Cashtags on the claim form.
Who is eligible to file a claim for the settlement?
Those eligible to file for the settlement include current or former Cash App or Cash App Investing customers who used the app between Aug. 23, 2018 and Aug. 20, 2024, and suspect:
- Their Cash App account was accessed by an unauthorized entity
- There were fraudulent transactions on their account
- That a Cash App error resolution was inadequate
- That they saw sensitive personal information swiped via Cash App
How to submit a claim
To file a valid claim, Cash App users can submit a completed form by Nov. 18, 2024 for consideration. Users that were mailed or emailed a notice need to enter either a notice ID and confirmation code. You can still file a claim if you haven't received any notice by filling out this form.
The quickest way to submit a claim is online at cashappsecuritysettlement.com. Forms can also be submitted through the mail. You can print a form from the Settlement website and mail it to the Claims Administrator at the address on the form. Claim Forms are also available by calling 1-866-615-9740 or by writing to: Cash App Security Settlement Administrator 1650 Arch Street, Suite 2210 Philadelphia, PA 19103.
Expenses you can recover
Ultimately, settlement amounts will be determined by how many people file valid claims by the deadline. The maximum amount you can recover is $2,500. There are three classes of expenses eligible for reimbursement; out-of-pocket, lost time and transactional losses.
You'll need to provide third-party documentation showing what transactional losses occurred and any steps taken to report it. You can submit evidence of correspondence with Cash App relating to the incident, a police report, a report with your bank or credit union, or a report to the FTC or other government agency.
| Type of loss | Maximum amount allowed | Costs associated with: |
|---|---|---|
| Out-of-pocket losses | $2,500 | credit monitoring or identity theft insurance, requesting a credit report, credit freeze, |
| Row 1 - Cell 0 | Row 1 - Cell 1 | canceling a payment card and/or obtaining a replacement payment card |
| Row 2 - Cell 0 | Row 2 - Cell 1 | closing a bank account and/or opening a new bank account |
| Row 3 - Cell 0 | Row 3 - Cell 1 | unrefunded overdraft and/or overdraft protection fees, late and/or missed payment fees and/or charges |
| Row 4 - Cell 0 | Row 4 - Cell 1 | Miscellaneous expenses such as postage fees, long-distance phone charges, express mail, and other incidental expenses |
| Row 5 - Cell 0 | Row 5 - Cell 1 | Row 5 - Cell 2 |
| Lost time | up to three (3) hours at a rate of $25.00 per hour | for time spent mitigating losses |
| Row 7 - Cell 0 | Row 7 - Cell 1 | Row 7 - Cell 2 |
| Transaction losses | Row 8 - Cell 1 | unauthorized or fraudulent transactions |
How to get more information
If you have any questions or want more information, you call the Settlement Administrator at 1-866-615-9740, write to the Settlement Administrator via mail to Cash App Security Settlement Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103 or via email to info@cashappsecuritysettlement.com.
A final approval hearing is scheduled on Dec. 16, 2024 at 9:30 am PT. You can check the settlement website here and the Court’s docket for updates.
You may exclude yourself from the settlement by mailing a written notice to the Settlement Administrator, postmarked on or before Nov. 1, 2024
Related Content
-
What's Better Than Investing in Crypto? These 'Boring' PicksCryptocurrency may be good for a thrill, but older investors are better off with assets like bonds, guaranteed annuities, CDs and maybe dividend-paying stocks.
-
Four Actions to Lessen Retirement Stress for Women (and Men)Saving for retirement is anxiety-inducing for everyone, especially women. Following this four-part action plan can help improve your financial security.
-
Year-End Retirement Tax Planning Actions if You Have $1 Million or MoreConsider implementing these four strategies before December 31 to potentially improve your tax situation for this year and the future.
-
25 Financial Moves to Consider Before December 31Tidying up your financial house before the New Year kicks off will put you in a great position to have a financially satisfying and successful 2025.
-
Five Side Hustles You Could Turn Into a Full-Time BusinessYou might be able to capitalize on your expertise in ways you haven't thought of, possibly even leading to quitting your 9-to-5 job to do what you love.
-
Rebound in Jobs Growth Keeps Fed on Track: What the Experts Are SayingJobs Report No nasty surprises in the November payrolls data leaves a quarter-point cut in play.
-
Who Works to Make Your Insurance Work?Ensuring a smooth insurance process takes more than just your insurance agent or broker — many talented people are busy behind the scenes.
-
Amazon Prime Flight Deals Offers $25 Plane Tickets for Young AdultsAmazon partners with StudentUniverse to offer $25 flights to young adults with certain Amazon Prime accounts.
-
Three Charitable Giving Strategies for High-Net-Worth IndividualsIf you have $1 million or more saved for retirement, these charitable giving strategies can help you give efficiently and save on taxes.
-
The Wealth-Building Powers of Health Savings Accounts (HSAs)Health savings accounts could be the most underutilized wealth-building tool out there. Here’s who should use them and how to maximize their benefits.
